- LMAX is a Neutral Service
LMAX is an Multilateral Trading Facility which in essence is like a traditional Exchange bringing buyers and sellers together.
Your market orders are matched with another retail traders or one of the liquidity provider. Certain limit orders you place may also add liquidity and can be taken by other traders or the liquidity providers.
- Greater Transparency
You can place your orders within the spread and if you get filled you will be charged a commission fee. LMAx acts as an exchange and it clears CFDs through LCH.Clearnet, while spot FX & Metals trading are carried out according to a bi-lateral clearing between members under ISDA (International Swaps and Derivatives Association) agreements. LMAX offers no settlement risk once orders are matched and novated to a central counterparty.
- Tight Spreads and No Requotes on CFDs and FX
When you place an order on LMAx it will be visible to all market participants. As LMAx doesn’t operate a dealing desk, your orders will be filled according to the transparent order book based on the available liquidity.
- What Are Centrally Cleared CFDs?
Opposed to traditional Contracts for Difference, ccCFDs differentiate because they are centrally cleared. The advantage of turning these traditionally OTC products into Exchange traded and centrally cleared, provides traders with greater transparency.
Why CFDs with LMAX?
- Place Orders Within The Spreads
When you are trading ccCFDs (centrally Cleared CFDs) on LMAX, your orders are placed in the book.
- No Dealing Desk Model
LMAx operates a Straight through Process model (STP) with no dealing desk on all its products.
- No settlement risk against your orders
Your trades are passed on to the MTF (Multilateral Trading Facility), and because LMAX offers no risk settlement on your orders once they’re matched and novated to a central counterparty, LMAX doesn’t run risk against you and it doesn’t benefit from your losses.
- Competitive Conditions
We offer a transparent pricing and commissions to trade on LMAX using PathFinder Trader™ with no extra charges.
Tight CFD Spreads
Chart Displays Spreads for CFD Products. Click Here for LMAx FX offer.
|Indexes||Symbol||Base Currency||Trading Hours||Contract Size||Tick Value|
|Europe 50||STOXX50E||EUR||(UTC) 6:00 - 20:00||€ 1.00||€ 0.10|
|France 40||FCHI||EUR||(UTC) 6:00 - 20:00||€ 1.00||€ 0.10|
|Germany 30||GDAXI||EUR||(UTC) 6:00 - 20:00||€ 2.50||€ 0.25|
|Netherlands 25||AEX||EUR||(UTC) 6:00 - 20:00||€ 20.00||€ 1.00|
|UK 100||UK100||GBP||(UTC) 6:00 - 20:00||£ 1.00||£ 0.10|
|US SPX 500||SPX||USD||(UTC) 7:00 - 21:00||$25.00||$2.50|
|US Tech 500||NDX||USD||(UTC) 7:00 - 21:00||$10.00||$1.00|
|Wall Street 30||WS30||USD||(UTC) 7:00 - 21:00||$1.00||$1.00|
|Commodities||Symbol||Base Currency||Trading Hours||Contract Size||Tick Value|
|Gasoil||LGO||USD||(UTC) 7:00 - 20:00||$10.00||$0.50|
|Gold||GC||USD||(UTC) 8:00 - 21:00||$10.00||$1.00|
|Silver||SI||USD||(UTC) 8:00 - 21:00||$500.00||$2.50|
|UK Brent||LCO||USD||(UTC) 7:00 - 20:00||$100.00||$1.00|
|US Crude||CL||USD||(UTC) 8:00 - 21:00||$100.00||$1.00|
|Indexes||Symbol||Base Currency||Initial Margin||Commissions*||Minimum Charge|
|Europe 50||STOXX50E||EUR||2%||€ 0.30||€ 0.60|
|France 40||FCHI||EUR||2%||€ 0.30||€ 0.60|
|Germany 30||GDAXI||EUR||1.5%||€ 0.30||€ 0.60|
|Netherlands 25||AEX||EUR||2%||€ 0.30||€ 0.60|
|US SPX 500||SPX||USD||3%||$0.40||$0.80|
|US Tech 500||NDX||USD||2%||$0.40||$0.80|
|Wall Street 30||WS30||USD||1.5%||$0.40||$0.80|
|Commodities||Symbol||Base Currency||Initial Margin||Commissions*||Minimum Charge|
* Per Contract per Side placed through PathFinder Trader™ and for self-directed accounts only.
|Custodian Bank(s)||ING BANK
Bank of Scotland
|Credit Card Deposit||YES|
|Direct Wire Deposit||YES|
|Wire Deposit Fee||NONE(1)|
|Wire Out Fee||NONE(1)|
(1): Your banks, any intermediary bank, credit card, payment processor ot its intermediary may charge additional fees.
Important Note About Our Statistics
Although we strive to provide you with useful information, our statistical data such as spreads, average spreads, execution times and other data contained on this page are for informational purpose only and they cannot be deemed suitable for trading decision or for dispute purposes. This statistical data has certain limitation and it doesn’t take into account market volatility, volume, system availability, computer performance, internet connection speed, geographical location, and other factors which may delay or otherwise affect your prices and trade execution. Price can change quickly in fast market conditions, resulting in an execution price different from the price available at the time order is submitted. All data on this page is not in updated in real-time and it may not be representative of all data available nor guaranteed to be error-free. Your actual live account results may differ.
Frequently Asked Questions
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LMAX† exchange is a Multilateral Trading Facility (MTF) which means that there is no dealer intervention, no hedging of clients positions and no requotes. All orders are passed to the exchange where prices are quoted by the liquidity providers or other traders like you, resulting in increased trasparency of pricing and execution. LMAX† simply matches the best bids and offers. Take a look at our complete LMAX† offer at this page.
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LMAX† is an MTF exchange offering direct access to its products through an API and a basic web-based platform. By opening an account through FastBrokers, you will be able to trade on the LMAX MTF using PathFinder Trader™ at no extra cost.
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You can open an LMAX† trading account for as low as $2,500 (or equivalent GBP or EUR).
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Unfortunately, US citizen and US residents are not allowed to open an account with LMAX†, because LMAX is currently registered and regulated in Europe.
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LMAX† Limited is authorized and regulated by the Financial Services Authority in the United Kingdom (Register Number 509778). LMAX Limited is registered in England and Wales (Number 06505809). LMAX holds registration as a broker and an MTF (Multilateral Trading Facility).
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LMAX† ensures that client funds are segregated and protected from their own business activities at all times. As a regulated entity LMAX† is fully compliant with the FSA Client Assets Sourcebook (CASS). LMAX holds client trust accounts at RBS and JP Morgan Chase and also holds a client trading account with the London Clearing House.
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Yes, all contracts traded on LMAx™ offer level 2 depth of market view.
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